The following is a summary of the Issuer Direct Corporation (ISDR) Q4 2023 Earnings Call Transcript:
Financial Performance:
Issuer Direct Corporation reported a 6% increase in Q4 2023 revenue to $7.5 million and an Adjusted EBITDA growth of 5% to $1.1 million.
Subscription business expanded 5%, with average price per release in their core news business remaining constant.
Full year revenue was up by 42%, largely due to the acquisition of ACCESSWIRE and Newswire.
Total customers grew by 45% YoY to 11,924 while subscriptions rose 5% to 1,053 customers, boosting revenue by 10%.
The company saw an operating loss of $105,000 for Q4, but a yearly operating income increase to $2.8 million from $2.7 million in 2022.
Compliance business experienced a 20% Q4 and 24% annual increase.
Business Progress:
The company plans to fine-tune products like the Media Suite to cement itself as a SaaS recurring subscription business.
Plans to transition to an ARR model with marketing for Media Suite are underway, intending to drive double-digit growth in the news segment in the upcoming years.
Services were provided for brands such as Delta, Bosch Health, Celsius, AutoZone, showing market validation.
An increase in projects and average project size in print and proxy fulfillment services contributed to Compliance business revenue growth.
Increased expenses in general administration, product development, and year-long sales and marketing due to the Newswire acquisition.
More details: Issuer Direct IR
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